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Expect more visas for Indian IT professionals: Timothy Geithner

He also tried to address India's concerns over visa to IT professionals. We expect significant increase in visas, he said after the meeting.

ET Bureau & Agencies | Updated: Oct 9, 2012, 03.45PM IST

He also tried to address India's concerns over visa to IT professionals. We expect significant increase in vis... Read More

NEW DELHI: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday.

India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to foreign supermarkets, to revive economic growth, which has slowed to a near three-year low.

He also tried to address India's concerns over visa to IT professionals. We expect significant increase in visas, he said after the meeting.

"The reforms outlined by the government of India offer a very promising path to improving growth outcomes for the Indian economy," Geithner said at a joint news conference with Indian Finance Minister P. Chidambaram.

Giethner added that he and Chidambaram discussed ways to lower trade barriers between India and US.

US economy faces a lot of fiscal challenges, he said, adding that US has a very strategic partnership with India.

Reforms by government of India are very promising and have been welcomed around the world, Geithner said, referring to India's decision to open foreign direct investment in multi-brand retail and allowing foreign carriers to invest in India's airlines.

Chidambaram said he had raise concerns that the third round of quantitative easing by the US could raise commodity prices, but admitted that some of the money could come to India as well.

Commodity prices have not risen that much so it is too early to talk about its impact. If QE3 improves US economy, it will also be good for India, Chidambaram said.

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So now all the gultis from Andhra will line up for fake H1Bs so they can bring their entire village to US on fake paper company. Then, they will live 10 people in a 1BRK, see gulti movies and work in a nearby subway. From that money, they will buy land at Ring road in Hyderabad and property price will shoot up. Land of fake IT professionals, Gultiabad. Shame on all of them, chors.

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